Choose a prize that makes people say, “I want to win that!” This may seem like the last decision you need to make, but having an enticing prize makes the incentive to enter that much more powerful. And, you can build your creative campaign around it. Also, the better the prize, the more viral your contest becomes.

Step Two: Figure Out What’s In It For You

Determine your contest’s purpose – is it to generate leads, qualify prospects, come up with a new design, position your company as a resource, contribute to your community or something else? It may be all of these or just one.

Step Three: Write Winning Rules

For more formal contests, write your rules carefully and take your time. Check with a legal resource to make sure your fine print covers any liabilities. And, be sure to ask for all the customer information you want to capture beyond the basics and into buying preferences, industry or even lifestyle questions that give you clues into buying behaviors.